CM: retainers/ holding spaces for a few months

[CallaCate]

Hi, I am just starting out as a CM and would appreciate some advice.

I have had an enquiry from a mum who wants a place starting in November. It sounds like just the job I'm looking for so will likely be keen to secure it. However, November is four months away.

What do other CMs do in this situation? Do you charge a retainer? How much? (I have read before about CMs only charging a retainer once they get another enquiry that means they could fill the space, and this seems fair.)

Also, the baby is 5 months now so I would like to get to know him over the next 4 months (as he would be 9 months in November so likely more wary or strangers by then). What kind of settling in program would you recommend, considering his age and that we have plenty of time?

Many thanks.

I would do as youve said OR ask for a deposit which can be (if you wish) taken off first months fee BUT non refundable if they change their mind in mean time..i would add that you would like to have maybe 2-3 hours a week as a settling in period with baby up till start date..gives mum time for herself and you and baby time to get to know eachother a little, they usually love this kind of thing (mums).good luck

the way i see it is if you can fill your space before november then you need to take a retainer. if you are turning people away because you are holding this space for this family then you should consider perhaps a weekly charge until the child comes to you. you can't be expected to turn away work for nothing.

with regards to a settling in period. do what you feel is best but a weekly visit until november does sound a bit much.

Around here (Sussex) quite a lot of childminders are charging what is effectively a retainer AND a deposit.

The retainer is calculated as a percentage of the fees that would have been paid from the time the parent commits to the contract to the time the contract starts. Many are charging 50% but I tend to charge 25% and normally for a maximum of three months. The retainer should only be charged to hold a place that already exists. If a childminder is currently full but will have the space at the time of starting with the new child, then a retainer is not appropriate.

The deposit will normally be equivalent to the first months fees which some minders will then offset against the first months invoice. I prefer to hold the deposit until the child leaves me (which might be 3 or 4 years!!) and then I offset it against the final invoice. In this way, I have a buffer against possible non payment.

For the payment of the retainer, the parent does not get any service, simply the guarantee that the space is being held for their child. It is the deposit that is used against actual minding fees in one way or another. Neither are refundable if the parent cancels the aggreement so it is very important to get fully signed contracts in place as soon as possible even if the starting date is not for another 3 to 4 months.

For settling in sessions, I personally offer this as part of the contracted agreement, not prior to its start. I do not provide free sessions as some do as I am working and should therefore be properly paid for it. The work and responsibility is no less (in fact it is more in the first few days). If the mindee is a full-day child, then I like to do two settling in sessions - maybe three hours on the first occasion and then on the second occasion, I like it to include a meal time - I have found on a number of occasions that with the younger children (6 months or so), they are often quite happy to play with other chioldren and the minder but when it comes to being fed by someone else, it is quite a different story!!

Good luck.

Thank you all for your responses and apologies for not coming back sooner - technical issues!

I will definitely ask for a deposit - great tip to hold it until end of contract instead of beginning, thanks.

All your other advice gratefully received too, think I will go with a retainer once I get enquiries meaning I could fill the space, will think about how much it should be. (I am in Sussex too.)

Thanks for the settling in tips too, Millenium.